Lourandi Kriel

Experience

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  PricewaterhouseCoopers

  Jan 2006 - Sept 2009

  Manager

  3 Years as a Trainee Accountant to become a certified chartered accountant. Qualified as a CA (SA) on first attempt. Promoted to an Audit Assurance Manager in 2009. Clients included but was not limited to major, JSE listed entities – MTN, Kagiso Media, Omnia Holdings, Independent Newspapers, entity within the Vodacom Group etc.

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  Nedbank

  Oct 2009 - Jun 2012

  Financial Officer

  Financial Officer at Nedbank Business Banking. Credit, Risk & Regulatory reporting.Key Activities: • Calculations & Forecasts for Management • Fielding & Resolving Queries for Business Heads, Heads of Credit • Formulating, Testing, Presenting Analysis, Reports • Managing Relationships with Group Finance, Group Risk & MIS • Solution Development • Compiling Year End Audit Pack

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  SAICA CA(SA)

  Jan 2010 - Dec 2018

  Chairperson and member of the SAICA Northern Region Members in Business Forum.

  • Chairperson - Northern Region Members in Business

    Jan 2013 - Dec 2018

  • Marker/Assessor - SAICA Board Exams (APT & APC)

    Jan 2010 - Dec 2018
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  South African Securitisation Forum

  Jan 2013 - Dec 2015

  Member
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  Fintech (Proprietary) Limited

  Mar 2013 - Dec 2015

  Head of Finance

  Led the finance operation for the company, operating as CFO, to ensure financial well-being, growth, sustainability and compliance. Developed and executed business strategy and effective operational systems and teams. Head of the Insurance and Remote Metred Services business.Drove and managed the investor relationships and the M&A by analysing potential buyers to integrate the businesses from a structural, systems and people perspective. Dealt with government bodies like the Competition Commission and Reserve Bank. Notable Achievements• Played a lead role in negotiations, due diligence and sale of the business. Led the integration and alignment of the business into Sasfin, delivering an above-expected P/E ratio for shareholders with minimal warranties negotiated.• Secured $75 million every 2 years via rated notes at less than budgeted costs and directly managed investor relationships• Stabilised the finance division of the business quickly, achieving green audit reports• Developed Finance Manager and Senior Accountant into CFOs Show less

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  Ocean Basket Holdings

  Jan 2016 - Dec 2017

  Global Group Chief Financial Officer

  Initially contracted as a management consultant to investigate and make recommendations on key improvement areas in the business. Due to the success of consultancy intervention, appointed by the Board to lead the turnaround and execute recommendations including developing a fully operational back-office consisting of Finance, HR and IT. Upskilled and prepared existing staff and resources. Ensured company was compliant with tax and company laws of South Africa and Cyprus and improved multiple profit drivers in franchisor and franchisee business.Notable Achievements• Delivered a complete business turnaround in 18 months focused on finance, HR, IT, supply chain and operations• Created a full and transparent financial report suite, decision making data and spearheaded training, establishing highly functional teams without losing the entrepreneurial spirit of the business• Reduced supplier accounts from 180+ to 30-60 days overdue, saving and building strong relationships with suppliers that resulted in improved negotiation terms on stock• Increased positive cashflow: the company moved from cashflow negative to positive within 7 months• Increased EBIT by 28.57% in 2015/16 and 23.46% in 2016/17: the first time in 3 years that the targets were achieved• Reduced measurable stock losses from 30% to 11% over 2 years and implemented processes to detect stock theft • Improved company-funded welfare – health-insurance and retirement benefits – without compromising profitability• Improved the group business COSO risk score from 2.6 to 6.3 within 1 year Show less

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  Sasfin

  Jan 2018 - Apr 2018

  Consultant - Interim CFO

  Stand-in CFO whilst Reserve Bank approved, appointed and onboarded CFO. Provided general guidance, direction and coaching/training to the Finance team, including asset backed finance business and securitisation as a fund-raising mechanism. Notable Achievements• Successfully coached, developed and accelerated the learning cycle of the team, particularly the Financial Manager and reporting team, taking them from a willing but passive group to a motivated, skilled and high-functioning unit Show less

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  InQuba

  Apr 2018 - Jan 2020

  Chief Financial Officer

  Created a strategic vision, streamlined the finance operation and improved strategic execution to ensure the business was attractive to potential investors for a second round of capital raise. Transformed finance function and upskilled staff. Built and implemented accurate financial reporting, budgeting, daily cash flow management, governance (audits) and forward revenue analysis. Improved existing and added future revenue channels. Partner and trusted advisor to the external private equity investor and drove the compilation, finalisation of investor packs, analysis and due diligence for a successful second round of capital raise.Notable Achievements• Transformed the Finance function and established a successful high-performance team, providing key transparent, accurate analysis insight and direction to founders and investors• Increased operating profit performance consistently, moving from a loss, through break-even to sustainable profit • Led capital raise negotiations and due diligence with potential investors and secured second-round funding for 5 years Show less

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  Cartrack Asia Pacific

  Jan 2020 - Dec 2020

  Country Manager (CEO)

  CEO of the Philippines business (remotely from Singapore since March) delivering end-to-end business improvement and management. Launched dealership sales channel in the Philippines and enhanced the call centre and corporate sales channel. Improved financial and operational reporting by migrating financial and client data from old systems to new systems Notable Achievements• Negotiated, obtained and developed the Cartrack HQ in Manila and office space in Cebu City to accommodate company growth. Recruited, appointed, onboarded and trained 38 recruits to fill all vacancies (67% HC Vacancy)• Grew unit sales from 170 to 248 units/per month average: unit sales consistently increasing month on month • Reinvented Collection and Billing; increased average cash collection rate from 38% to 53% and delivered highest collection rate since 2018 of 70%, all during unprecedented times with public transport paralysed by the Covid pandemic • Decreased outstanding client tickets from 863 to 37 open tickets, improving customer service and satisfaction • Increased customer retention and net customer growth by 31% and increased client engagement by 26% across all web and app platforms Show less

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  Crux

  Feb 2021 - now

  Founder | CEO

  • Business Turnarounds• Business Improvements• Investment ready business builders• Venture Building• Business Strategists

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  SBV South Africa

  Sept 2021 - Oct 2023

  Managing Director - SBVCS & Academies
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  Africa Cosmos

  Sept 2021 - Oct 2023

  Managing Director

  Empowering People for Greatness.

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  SweepSouth

  Jan 2024 - now

  Chief Executive Officer